Law Firm specializing in NFTs and intellectual property

The expression NFTs (non fungible tokens, non fungibletokens ) designates those electronic annotations made in a blockchain that represent subjective rights of a non fungible nature, whether they are purely digital rights (existing only in cyberspace) or rights existing in the physical-legal world, such as property and the rest of the real rights over goods.

Their issuance, transmission and redemption is controlled by a smart contract residing in a blockchain account.

NFTs are therefore a mechanism for electronic representation of assets and are now being widely used to represent intellectual property rights. In this area, the market volume of NFTs is growing exponentially, reaching a total amount of US$21 million in 2021. By way of example, in March of the same year, the work of the graphic artist Beeple "Everydays: The first 5000 days" was sold at Christie's for a record $69.3 million. No wonder Collins Dictionary No wonder Collins Dictionary declared NFT as "word of the year" 2021.

Although NFTs have so far been used primarily as a support for intellectual property rightsIn addition, there are no technical obstacles that prevent their use in other areas such as commercial or real estate. If the emergence of cryptocurrencies brought about a change in our concept of money, NFTs have the potential to be the protagonists of the next legal revolution, which will consist of the transfer to cyberspace of a large part of real estate and corporate traffic.

(NFT named word of the year by Collins Dictionary, article by Voice of America)